Blackstone To Deploy $6 Bn For Building Data Centres In Maharashtra

Blackstone To Deploy $6 Bn For Building Data Centres In Maharashtra

SUMMARY

The alternative investment management company has signed two agreements to push the development of data centres in the state

The US-based investment company and its JV partner Panchshil Realty entered into a deal with Maharashtra Industrial Development Corporation (MIDC) to invest $3 Bn to develop data centres in the state

In another pact with the City & Industrial Development Corporation of Maharashtra (CIDCO), Blackstone will invest $3 Bn for infrastructure assets in Mumbai Metropolitan Region (MMR).

The American investment giant and its joint venture partner Panchshil Realty inked an agreement with the Maharashtra Industrial Development Corporation (MIDC) to invest $3 Bn (around INR 26,000 Cr) to develop data centres in the state. In another pact with the the City & Industrial Development Corporation of Maharashtra (CIDCO), Blackstone will pump the remaining $3 Bn into infrastructure assets such as data centres in the Mumbai Metropolitan Region.

The story was first published by The Economic Times.

The investment company is setting up two data centres in Navi Mumbai and has parked over $300 Mn in each of these ongoing projects.

As per the report, Blackstone Group has signed three separate agreements with the Maharashtra government at Davos to boost the state’s real estate infrastructure and drive the digital transformation efforts. As part of these agreements, it has lined up $11 Bn (around INR 95,000 Cr).

The deal was led by Maharashtra Chief Minister Devendra Fadnavis, who also represented a delegation from the state at the World Economic Forum in Davos this year.

The development comes at a time when Maharashtra sees a barrage of investments to boost its data and cloud infrastructure. It also wants to position itself as a prominent player in the artificial intelligence segment.

Amazon Web Services (AWS) is reportedly planning to invest $8.3 Bn in cloud infrastructure across Maharashtra to further expand its cloud capacity in India. This move aligns with the company’s broader commitment of $12.7 Bn in India by 2030 to cater to the growing demand for cloud services and AI.

Seeing the spate of investment in new-age technology infrastructure, Maharashtra has decided to draft its independent AI policy. The Centre is also pushing the growth of GenAI in the country with its efforts. On January 22, the government reportedly selected 10 tech giants for the final bidding process to procure 10,000 graphic processing units (GPUs) under the IndiaAI Mission.

Companies like Jio Platforms and Tata Communications have been shortlisted for this tender.

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Blackstone To Deploy $6 Bn For Building Data Centres In Maharashtra-Inc42 Media
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